Image Source: Food Bank
Aug 9, 2018
Fonterra is world’s largest dairy exporter and is now entering a joint venture with Future Consumer Ltd to produce a range of consumer and food service dairy products. This JV would enable New Zealand-based Fonterra to enter its presence in India.
The partnership will allow preparing the groundwork and making the most of the expertise to enter the world’s largest and fastest growing dairy industry. The demand for dairy is set to increase in India over the next seven years is set to increase by 82 billion litres seven times the forecasted growth for China.
The first consumer products in India will be launched by the middle of 2019, using both locally sourced milk and dairy products from New Zealand. And Fonterra will also use this time to settle in the partnership infrastructure, learn the market and prioritize geographies.
Future Group CEO Kishore Biyani said the association with Fonterra comes at a time when the dairy industry in India is flourishing. With association with Fonterra, Future Consumer will enhance its food and FMCG portfolio and will offer a variety of dairy products which are high in demand and consumed daily,” he added.